Nestlé To LaunchBlockchain Based Palm Oil Tracking

Nestlé, the global foodstuffs conglomerate, will launch a blockchain based scheme to enable customers to track sustainability and provenance throughout its supply chain.

The scheme will initially allow consumers to track milk, and will focus on suppliers in New Zealand shipping to the firm’s production facilities in the Middle East. Following the initial pilot, the firm said it also intends to add palm oil tracking from sources in the Americas, which it expects to appeal to environmentally-conscious consumers.

Nestlé, Press Release:

“Open blockchain technology might allow us to share reliable information with consumers in an accessible way.”

Initially Nestlé experimented with pilots powered by IBM Food Trust, but now, the firm said, it will turn to the Open SC blockchain platform. Open SC was developed by The Boston Consulting Group Digital Ventures, in partnership with World Wildlife Fund (WWF) Australia.

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